Pernia hopeful economy sustained 7 pct growth in Q3 | ABS-CBN
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Pernia hopeful economy sustained 7 pct growth in Q3
Pernia hopeful economy sustained 7 pct growth in Q3
Joel Guinto,
ABS-CBN News
Published Nov 08, 2016 12:32 PM PHT
DAVAO CITY -The economy hopefully sustained 7 percent growth in the third quarter as ramped up government spending offset the absence of election-fueled consumption, Economic Planning Secretary Ernesto Pernia said Tuesday.
DAVAO CITY -The economy hopefully sustained 7 percent growth in the third quarter as ramped up government spending offset the absence of election-fueled consumption, Economic Planning Secretary Ernesto Pernia said Tuesday.
Gross domestic product grew 7 percent in the second quarter, one of the fastest in Asia, bringing six-month growth to 6.9 percent. Official third quarter data are due on Nov. 17.
Gross domestic product grew 7 percent in the second quarter, one of the fastest in Asia, bringing six-month growth to 6.9 percent. Official third quarter data are due on Nov. 17.
"I hope so," Pernia told reporters here, when asked if 7-percent growth could be reached in the July to September period.
"I hope so," Pernia told reporters here, when asked if 7-percent growth could be reached in the July to September period.
"There's been an upsurge in government spending in the third quarter," he added.
"There's been an upsurge in government spending in the third quarter," he added.
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Pernia said there will be "no problem" hitting the full-year GDP growth target of 6 to 7 percent and growth of at least 6.5 percent for the full year is "easy."
Pernia said there will be "no problem" hitting the full-year GDP growth target of 6 to 7 percent and growth of at least 6.5 percent for the full year is "easy."
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